Heads up re: Knight-Swift

Here's some information I gathered from the "inter-web".
Just read that Knight-Swift are pretty desperate to get drivers to fill up their empty trucks.

Yes, good point.

1. It is now Knight-Swift (2017 merger)
2. Knight bought Barr-Nunn (2014)
3. Knight bought Abilene Motor Express (2014)

"Western Express claims that it was forced to default on a loan covenant with its lenders, which required them to enter a consulting agreement with Knight Management Services Inc., and enter into a stock option investor rights agreement with Knight Capital Growth Inc., as well as "enter amendments and waivers to their credit facilities with JP Morgan Chase and Key Principal Partners.

Knight Management Services and Knight Capital Growth are subsidiaries of Phoenix-based and publicy traded Knight Transportation, which runs a big terminal in Lebanon, Tennessee."

 

Wait. What? Western Express is going to be part of that group?

Link please.

 

Aren’t there any pagan trucking companies left?

 

It's almost like these Megas are getting too big for their own good.

 

Heathen Freight Lines, Columbus Ohio

 

It’s like mega toilet paper rolls. Too big and bulky

 

might be alot less bs real trucking you get with a russian outfit that makes its payroll

 

In 2013 they put the screws to USA Truck just like Western Express. They started buying up the company stocks when it was weak. They got sued in a hostile takeover bid by USA & I guess they didn't think pathetic little USA was worth it & backed off.
USA has since hired a former TDOT lawyer as a VP named get this, Katherine Knight.
Knight bought 12.5% of the company in 2013 at $6 per share & sold half of them 2yrs later at $24-28 per share.
Say what you want about Mormonism, but when it comes to business & real estate you could learn a lot

 

I don't want to learn how to abuse-exploit companies or people.

I've read the same things about Knight-Swift questionable/immoral business tactics.
I do not approve of "knight-swift put the screws to USA Truck" .... "just like Western Express." On an individual or corporate level, it is wrong to exploit someone's temporary weakness through immoral business tactics .... (hostile takeovers or force buyouts .... etc.).

Here's the Knight-Swift driver shortage / empty truck seats report:

Dave Jackson, CEO of Knight-Swift Transportation Holdings, said ....

“Freight demand was generally strong across our network on a better-than-seasonal basis throughout the quarter,” he said in a statement on April 25, 2018. “At the same time, given tight unemployment and our uncompromising commitment to safety, we continue to face perhaps the most difficult driver-sourcing challenge we have seen, which is a headwind on our unseated truck count and utilization metrics.”
Knight-Swift Reports ‘Progress’ With Merger, Sees Challenges in Getting Enough Drivers

 

Just 1099 outfits. You can pretty much sell your soul or firstborn working for those...